How To Prepare for a Home Appraisal

the appraisal inspection is painless, and usually takes anywhere from 30-60 minutes to complete. However, there are a few things that you should do to help the process move along as smooth as possible.

Preparing for the appraisal inspection

• Create a detailed list of the recent improvements, which should include the following: when completed, cost of the improvement, before and after pictures if available.
• Make sure each room is accessible; the appraiser is required to inspect each room.
• If there is a crawl space, this area will also have to be made accessible for inspection for an FHA appraisal.
• Give the appraiser room to do their job. Errors are more likely to occur when the appraiser isn’t able to concentrate on their inspection.

• Keep all pets restrained. I’ve been bitten twice by a dog, and once by a cat; the owners had assured me that their pets were friendly-not so much!
• If you live within a development that has a homeowners association, have the name and phone number of the contact person available, along with a fee statement.
• If the appraisal is for an FHA loan, then the area leading to the attic will have to be cleared and made accessible-the appraiser is required to make at least a head and shoulders inspection of the attic area.
• Walk through each room and straighten up as if you were getting ready for company to visit. Appraisers are objective and can look past many things, however, the underwriter reviewing the appraisal photos may feel differently.
• Complete any unfinished projects-most appraisals are done “as is”, and any projects that haven’t been completed, will have to be adjusted for within the appraisal report.
• A copy of any agreements regarding easements (shared driveways and/or garages,etc.) should be made available.

Once the appraisal is complete:

You have a right to a copy of your appraisal, so ask for it. If you should find any errors or have any concerns, talk with your loan originator. This is hard for borrowers to understand, being that they paid for the appraisal, but the mortgage company is the appraiser’s client, and they can’t discuss the appraisal with anyone else unless given permission.

Trying to understand an appraisal can be like trying to read the “Dead Sea Scrolls,”so ask questions and get clarification when needed-you paid for it!

Contact Dennis Smith for more tips on how to get the most for your home.

 Via Michael S. Bolton-MN Appraiser (Michael S. Bolton,Inc.)

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent

Sunshine Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified

RE/MAX BY-THE-SEA